# In the matter of Sakthi Ganesh Textiles Pvt. Ltd.

> NCLT judgment dated 2024-07-31. Citation: TCN-2024-NCLT-00913. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 31 Jul 2024
- **Citation:** TCN-2024-NCLT-00913
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sakthi-ganesh-textiles-pvt-ltd-6669f4a0

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Ms. Bhavya Nayak, Proprietor of M/s. Ranjitha Enterprises (Operational Creditor), against M/s. Sakthi Ganesh Textiles (P) Limited (Corporate Debtor), for initiation of the Corporate Insolvency Resolution Process (CIRP). An earlier application (CP/IB/213/CHE/2023) filed by an Operational Creditor against the same Corporate Debtor had already been admitted, and CIRP had been initiated.

## Facts

Ms. Bhavya Nayak, Proprietor of M/s. Ranjitha Enterprises, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Sakthi Ganesh Textiles (P) Limited, seeking to initiate CIRP. The Operational Creditor claimed an amount of Rs.3,45,83,057/- with a default date of 2022-10-05. Prior to this application, another application (CP/IB/213/CHE/2023) filed by a different Operational Creditor against M/s. Sakthi Ganesh Textiles (P) Limited had already been admitted, and CIRP had been initiated. Shri. S. Kangayan was appointed as the Interim Resolution Professional (IRP) in the earlier CIRP. The key fact is that CIRP was already in progress when this application was filed.

## Issues and analysis

### Issue 1: Whether the application CP(IB)/221(CHE)/2023 should be admitted given that CIRP has already been …

**Ratio:** Multiple CIRP proceedings against the same Corporate Debtor are generally not

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**Reasoning:** The court reasoned that since CIRP had already been initiated against the Corporate

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**Interpretation:** The interpretation of the I&B Code favors a single, comprehensive CIRP

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**Application:** The court applied this principle by closing the application

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** Bhavya…
- **Respondents:** Sakthi Ganesh…

## Timeline

- **2022-10-05 — Date of D…**: The Operational Creditor claims the…
- **2023-01-01 — Filing of CP/IB/213/CHE/…**: An application CP/IB/213/CHE/2023 was filed by an Operational Creditor against the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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